Overview
- Trump said he expects to close a "good" trade deal with Xi Jinping at a regional summit in South Korea next week but warned the meeting could be canceled.
- He also announced he was invited to visit China in early 2026, presenting the trip as part of a push for a major commercial agreement.
- The president threatened tariffs of up to 157% if negotiations fail and said he answered Chinese rare-earth restrictions with new tariff threats.
- China’s Foreign Ministry said threats of high tariffs are not the right way to deal with Beijing.
- A U.S. trade group urged suspension of the Affiliates Rule it says has paused billions in exports, as companies report more than $35 billion in costs from this year’s tariff actions.